PEABODY — The Peabody Zoning Board of Appeals Monday night unanimously approved a 116-unit apartment building on Farm Avenue — one of three major projects proposed in the city.
The other two proposed projects — the former J.B. Thomas Hospital property known as HDG King Street, LLC; and 40 Oak Street Development, LLC — were tabled to April 12 and May 3 respectively.
A motion to table King Street was read and approved at the start of Monday’s Zoom meeting while a brief discussion on Oak Street centered around a report submitted to the board that it deemed inadequate to address the flooding concerns around Oak Street. It was then decided to move the proceedings to a later date.
The Residence at Farm Avenue LLC is considered a “friendly 40B” because it helps the city reach the number of affordable housing units approved by the state, as contained under Chapter 40B. And as attorney Jason Panos, who represented the developers, said, it will help revitalize a section of the city that needs attention.
“We’ve accomplished this in the middle of a pandemic,” said Panos. “This will be truly transformative. This project will be done in a part of the city that needs a lot of attention, and, frankly, needs a lot of love.”
The area is sparsely populated, and contains a lot of industrial, trucking and mulch operations. It is also near the city’s landfill and Department of Public Safety building.
Chapter 40B says that developers can seek a permit from the ZBA that allows them to get past most zoning rules as long as a percentage of the development — in this case 25 — are set aside for affordable housing.
The project had the backing of Mayor Ted Bettencourt, who told Janelle Chan, undersecretary of the state’s Department of Housing and Community Development that it would add to the city’s subsidized housing inventory, and ensure that the project, when completed, would exceed the required affordable housing quota.
Bettencourt also wrote to Chan, telling her the project would provide quality units at rental prices the city needs to sustain itself. He said the project fits with the city’s overall plan to redevelop the section of Farm Avenue that runs alongside Route 128.
The Residences at Farm Avenue would be located on land owned by Farm Avenue Two Lots LLC, whose managers are Michael and Elaine Weiss — who are also managers of The Residences at Farm Avenue LLC. Those lots were bought in February 2014, and make up a little more than three acres near the intersection of Forest Street.
The project’s 116 units include 57 one-bedroom apartments, 47 two-bedroom, and 12 three-bedroom units. Six would be accessible to people with disabilities.
Structurally, the complex would have five floors of apartments above a ground-level parking garage with 152 spaces in a parking lot and inside the garage. The project also calls for 29 affordable units to those earning a maximum of 80 percent of the area median income.
“This has been a very good process,” said Panos after the vote was taken. “There are a lot of people to thank, particularly Mayor Bettencourt, who stood behind us all the way. I also want to thank the board for asking the very tough questions that will make this a better project.”
